Chinese businessmen eye Nepali hydropower projects

Chinese hydropower companies are looking to exploit opportunities to participate in hydropower generation in Nepal.

This was emphasized by Chinese ambassador to Nepal Qiu Guohong during the 11th meeting of Nepal-China Non-Government Cooperation Forum.

“If the Chinese hydro-power companies present in this forum can have a clear understanding regarding policies, status and opportunity for hydro-power investment in Nepal, the investment in the sector can be increased, which is suffering from power shortage due to inadequate hydro-power stations,” said Qiu, adding that the economic cooperation and trade between these two nations have expanded in recent years.

He pointed out that Nepal has abundant water resources, with potential water storage capacity of 83 million KW, which is 2.3 per cent of the water storage capacity all over the world. Out of which, 42 million KW can be used for generating electricity.

A high-level 40-member Chinese team has come to Nepal to attend the forum and most of them belong to reputed businesses.

The business delegation led by the All-China Federation of Industry and Commerce first vice-chairman Quan Zhezhu, who is also a vice-minister, has entrepreneurs from established and renowned Chinese private companies in the areas of tourism, aviation, metallurgy, real estate, medicines and mechanical engineering.

The Chinese businesspersons told their Nepali counterparts that they were seeking to invest in hydro projects ranging from 10 MW to 500 MW.

“Even the district-based small Nepali entrepreneurs can invest in hydropower sector by forging collaboration with the Chinese,” said Kush Kumar Joshi, president of Nepalese Chambers of Commerce and Industry (FNCCI).

ACFIC first vice-chairman Quan said that he would bring reputed Chinese companies here to explore the new investment avenues in Nepal.